Yesterday, the pound touched the target level of 1.1650. If the price's subsequent attempt to overcome this support becomes successful, the target level of 1.1600 can be worked out. Consolidating below it opens the 1.1525 target. The signal line of the Marlin Oscillator slowed down the decline and this is a signal to be vigilant.
The price and Marlin formed a convergence on the four-hour chart. Marlin is still staying in the negative area, which could be a sign of weakness in forming or even preparing the oscillator for a deeper decline.
Overcoming the MACD line (1.1770) will lead to an attack on the target level of 1.1815. At the moment, the trend is completely downward (convergence may turn out to be false), we are waiting for the price at the target level of 1.1600.
